What is Litecoin?
Litecoin is a peer-to-peer cryptocurrency and open-source software project launched in 2011 by former Google employee Charlie Lee. It was designed as a “light” version of Bitcoin, aiming to enable faster transactions and lower fees. Litecoin operates on a decentralized network with no central authority and uses cryptographic techniques to secure transactions.
Whitepaper: Litecoin Whitepaper
How does Litecoin work?
Litecoin uses a proof-of-work consensus mechanism similar to Bitcoin but relies on the Scrypt algorithm instead of SHA-256. This algorithm is less dependent on pure computational power and promotes a fairer distribution of mining opportunities. Transactions are validated approximately every 2.5 minutes—faster than Bitcoin’s 10-minute block time—allowing for quicker confirmations.
The token
Ticker: LTC
Category: Cryptocurrency
Blockchain: Litecoin
Protocol: Proof-of-Work (PoW) with Scrypt algorithm
Year of launch: 2011
The technology behind Litecoin
Litecoin is based on the Bitcoin codebase, with modifications to enable faster transactions and a more efficient mining process. The Scrypt algorithm makes mining more accessible to a wider range of hardware, enhancing decentralization. Litecoin also has a maximum supply of 84 million coins—four times that of Bitcoin.
The Litecoin ecosystem
Litecoin is widely accepted as a means of payment and is integrated into various payment systems and platforms. It also serves as a testing ground for new blockchain features such as Segregated Witness (SegWit) and the Lightning Network before these technologies are deployed on other networks.
Who founded Litecoin?
Litecoin was founded by Charlie Lee, a former software engineer at Google. He introduced Litecoin in October 2011 as a lighter version of Bitcoin, aiming to address some of Bitcoin’s limitations, such as slow transaction times and mining centralization.
Price at this moment
24h ago
€77.28
The value of Litecoin 24 hours ago
24h highest price
€79.48
The highest value of Litecoin the last 24 hours
24h lowest price
€76.51
The lowest value of Litecoin the last 24 hours
24h difference
-€0.38967904
The value in which Litecoin has dropped or increased the last 24 hours
Impact on the environment
Work in progress.
Risk disclaimer
Please note: for more information about this crypto asset, consult the official resources provided by the project via https://litecoin.org/.
Before trading, make sure to read the general risk warning about crypto asset trading:
Cryptocurrencies, including Litecoin (LTC), are volatile and involve risks. The value of LTC can fluctuate significantly, and investments may result in financial losses. Always do your own research and only invest money you are prepared to lose.
The BTC Direct disclaimer van be found here: https://btcdirect.eu/es-es/descargo-de-responsibilidad